PMP Study From Coursera - 3

Question 1

Refers to starting with a final task or milestone and moving backwards through the schedule to determine the shortest path

Answer 1

Backward Pass

Question 2

The dollar amount used to measure against to find out whether a project is on track or not and to measure the success of the project

Answer 2

Baseline

Question 3

The act of creating a fixed reference point of spending to measure and compare a project’s progress against

Answer 3

Baseline a Budget

Question 4

Thinking about all the parts of a project from the beginning to the end–including making a list of anything that comes with an associated cost–and adding all of it together

Answer 4

Bottom-up Approach

Question 5

The estimated monetary resources needed to achieve the project’s goals and objectives

Answer 5

Budget

Question 6

A situation where a budget is set before the project begins

Answer 6

Budget Pre-Allocation

Question 7

The possibility that the costs of a project will increase due to poor planning or expanding the project’s scope

Answer 7

Budget Risk

Question 8

Extra time added to the end of a task or project to account for unexpected slowdowns or delays in work progress

Answer 8

Buffer

Question 9

The amount of work that the people or resources assigned to the project can reasonably complete in a set period of time

Answer 9

Capacity

Question 10

Refers to the act of allocating people and resources to project tasks and determining whether the necessary resources required to complete the work on time have been acquired

Answer 10

Capacity Planning

Question 11

Capital expenses; refers to expenses which businesses incur to create a benefit in the future

Answer 11

CAPEX

Question 12

The inflow and outflow of cash on a project

Answer 12

Cash Flow

Question 13

A visual that shows the possible causes of an event or risk; also known as a fishbone diagram

Answer 13

Cause-and-Effect Diagram

Question 14

The flow of information; includes everything that’s shared, how it’s shared, and with whom

Answer 14

Communication

Question 15

A document that organizes the process, types, and expectations of communications for a project

Answer 15

Communication Plan

Question 16

Money that is included to cover potentially unforeseen events that aren’t accounted for in a cost estimate

Answer 16

Contingency Budget

Question 17

Money added to the estimated project cost to manage identified risks

Answer 17

Contingency Reserves

Question 18

Costs that are incurred to prevent issues with products, processes, or tasks

Answer 18

Cost of Quality

Question 19

The ratio of the percentage complete to the actual costs

Answer 19

Cost Performance Index (CPI)

Question 20

The difference between the amount of budget expected to be spent on versus what is actually spent for work completed at a point in time

Answer 20

Cost Variance (CV)

Question 21

The list of project milestones that must be reached in order to meet the project goal on schedule, as well as the mandatory tasks that contribute to the completion of each milestone

Answer 21

Critical Path

Question 22

A flowchart that helps visualize the wider impact of a decision on the rest of a project

Answer 22

Decision Tree

Question 23

A relationship between two project tasks, where the start or completion of one depends on the start or completion of the other

Answer 23

Dependency

Question 24

A visual representing the dependencies in the flow of work during a project

Answer 24

Dependency Graph

Question 25

Costs that occur directly in a project

Answer 25

Direct Costs

Question 26

In the critical path method, the earliest possible date on which a task (or the project itself) can begin

Answer 26

Earliest Start Date

Question 27

In the critical path method, the earliest possible date on which a task (or the project itself) can begin

Answer 27

Earliest Start Date

Question 28

A technique where a project’s performance or actuals for budget and schedule are regularly monitored against the planned budget and schedule

Answer 28

Earned Value Management (EVM)

Question 29

A prediction of the amount and difficulty of active work required to complete a task

Answer 29

Effort Estimation

Question 30

A person’s ability to relate to the thoughts and feelings of others

Answer 30

Empathy

Question 31

An issue that may cause a person to make unethical choices

Answer 31

Ethical Trap

Question 32

In this type of dependency relationship, the first task must be completed before the second task can be completed

Answer 32

Finish-to-Finish (FF)

Question 33

In this type of dependency relationship, the first task must be completed before the second task can start

Answer 33

Finish-to-Start (FS)

Question 34

FA visual that shows the possible causes of an event or risk; also known as a cause-and-effect diagram

Answer 34

Fishbone Diagram

Question 35

A contract that is paid for when certain milestones are reached

Answer 35

Fixed Contract

Question 36

Costs that won’t change over the course of a project

Answer 36

Fixed Costs

Question 37

The date on which work on a task must start in order to achieve a goal

Answer 37

Fixed Start Date

Question 38

The amount of time that can be waited to begin a task before it impacts the project schedule and threatens the project outcome

Answer 38

Float

Question 39

A cost estimate or prediction over a period of time

Answer 39

Forecast

Question 40

Refers to starting at the beginning of a project task list and moving forward towards the end of the project

Answer 40

Forward Pass

Question 41

A horizontal bar chart that visually maps out a project schedule and tasks, with clear breakdowns of who’s responsible for the work and when those tasks are due

Answer 41

Gantt Chart

Question 42

A risk that is serious and can affect the overall success of a project; requires direct communication with stakeholders to go over plans to mitigate and address

Answer 42

High-level Risk

Question 43

The damage a risk could cause, if it occurs; determined on a scale of high, medium, or low

Answer 43

Impact

Question 44

Costs that can’t be linked directly to a project

Answer 44

Indirect Costs

Question 45

The measure of a risk, calculated by its probability and impact

Answer 45

Inherent Risk

Question 46

A known and real problem that can affect the ability to complete a task

Answer 46

Issue

Question 47

A visual tool used to manage tasks and workflows

Answer 47

Kanban Board

Question 48

A corruption scheme where a certain percentage of an awarded contract is offered to an official who can ensure that their company wins the bid

Answer 48

Kickback

Question 49

A way of ensuring that project data can be accessed in the future by others who need it for informing decisions or planning similar projects

Answer 49

Knowledge Management

Question 50

In the critical path method, the latest possible date on which a task (or the project itself) can begin

Answer 50

Latest Start Date

Question 51

Refers to gathering experts' insights to do something more effectively

Answer 51

Leverage Experts

Question 52

A risk that may not greatly impact the project and may have a low probability of occurring, so a project manager may or may not communicate it to stakeholders

Answer 52

Low-level Risk

Question 53

A percentage of the budget set aside for unknown risks

Answer 53

Management Reserves

Question 54

A risk that requires direct communication with stakeholders and should be treated as urgent, as it will most likely impact the project

Answer 54

Medium-level Risk

Question 55

An important point within the project schedule that indicates progress and usually signifies the completion of a deliverable or phase of the project

Answer 55

Milestone

Question 56

Telling someone facts they need to know at the time they need to know them, and nothing more

Answer 56

Need-to-Know Basis

Question 57

A visual that sequences project tasks in order of dependencies

Answer 57

Network Diagram

Question 58

Document that keeps confidential information within the organization

Answer 58

Non-Disclosure Agreement (NDA)

Question 59

A question that cannot be answered with a yes or no

Answer 59

Open-Ended Question

Question 60

Refers to expenses which are required for day-to-day tasks within the company

Answer 60

OPEX (operating expenses)

Question 61

When a person believes that they are unlikely to experience a negative event

Answer 61

Optimism Bias

Question 62

Tasks that can happen at the same time as other tasks

Answer 62

Parallel Tasks

Question 63

Information that could be used on its own to directly identify, contact, or precisely locate an individual; includes email addresses, mailing addresses, phone numbers, precise locations, full names, and usernames

Answer 63

Personally Identifiable Information (PII)

Question 64

Describes people's tendency to underestimate the amount of time it will take to complete a task, as well as the costs and risks associated with that task

Answer 64

Planning Fallacy

Question 65

The second phase of the project life cycle; includes the schedule, the budget, and the risk management plan

Answer 65

Planning Phase

Question 66

A tool used to prioritize project risks

Answer 66

Probability and Impact Matrix

Question 67

The likelihood that a risk will occur

Answer 67

Probability

Question 68

Obtaining all of the materials, services, and supplies required to complete the project

Answer 68

Procurement

Question 69

The estimated monetary resources needed to achieve the project's goals and objectives

Answer 69

Project Budget

Question 70

Extra time tacked onto the end of a project

Answer 70

Project Buffer

Question 71

The first meeting in which a project team comes together to ground everyone in a shared vision, gain a shared understanding of the project’s goals and scope, and understand each person’s individual roles within the team

Answer 71

Project Kick-off Meeting

Question 72

Project management baseline (PMB): A clearly-defined fixed starting point for your project that includes the scope, budget, and schedule

Answer 72

Project Management Baseline (PMB)

Question 73

A document that records the scope, tasks, milestones, and overall activities of a project; generally contains these five basic elements: tasks, milestones, people, documentation, and time

Answer 73

Project Plan

Question 74

A document that records the scope, tasks, milestones, and overall activities of a project; generally contains these five basic elements: tasks, milestones, people, documentation, and time

Answer 74

Project Plan

Question 75

An activity that needs to be accomplished within a set period of time

Answer 75

Project Task

Question 76

Creating a separate revised budget based on how a project is tracking

Answer 76

Reforecast

Question 77

Document that outlines the details of a project

Answer 77

Request for Proposal (RFP)

Question 78

A method to check for remaining project resources

Answer 78

Reserve Analysis

Question 79

The cost of a resource

Answer 79

Resource Cost Rate

Question 80

A potential event which can occur and impact a project

Answer 80

Risk

Question 81

The willingness of an organization to accept the possible outcomes of a risk

Answer 81

Risk Appetite

Question 82

The stage of risk management where qualities of a risk are estimated or measured

Answer 82

Risk Assessment

Question 83

The process of identifying and evaluating potential risks and issues that could impact a project

Answer 83

Risk Management

Question 84

A living document that contains information regarding the identified risks, estimates of their probability and impact, and the mitigation plans for those risks

Answer 84

Risk Management Plan

Question 85

A table or chart that contains a list of risks

Answer 85

Risk Register

Question 86

The initial cause of a situation that introduces a risk

Answer 86

Root Cause

Question 87

The project timeline, which includes the start date, the end date, and dates for events in between

Answer 87

Schedule

Question 88

The ratio of the percentage of work complete to the planned budget for the planned work

Answer 88

Schedule Performance Index (SPI)

Question 89

The difference between the amount of work expected to have been completed and the amount actually completed at a given point in time

Answer 89

Schedule Variance (SV)

Question 90

The possibility that a project won’t produce the results outlined in the project goals

Answer 90

Scope Risk

Question 91

Tasks that must be completed in a specific order

Answer 91

Sequential Tasks

Question 92

A risk that has the potential to be catastrophic and halt work across a project

Answer 92

Single Point of Failure

Question 93

The amount of time that a task can be delayed past its earliest start date without delaying the project

Answer 93

Slack

Question 94

Personal characteristics that help people work effectively with others

Answer 94

Soft Skills

Question 95

When a company restricts the bidding process to one supplier, preventing competition

Answer 95

Sole-supplier sourcing

Question 96

When a company restricts the bidding process to one supplier, preventing competition

Answer 96

Sole-supplier sourcing

Question 97

In this type of dependency relationship, the first task must begin before the second task can be completed

Answer 97

Start-to-Finish (SF)

Question 98

In this type of dependency relationship, the first task must begin before the second task can be completed

Answer 98

Start-to-Finish (SF)

Question 99

In this type of dependency relationship, the second task can't begin until the first task begins

Answer 99

Start-to-Start (SS)

Question 100

A document that clearly lays out the products and services a vendor or contractor will provide for the organization

Answer 100

Statement of Work (SoW)

Question 101

Smaller tasks that are required to complete a larger task

Answer 101

Subtasks

Question 102

A team member with a deep understanding of a particular job, process, department, function, technology, machine, material, or type of equipment

Answer 102

Subject Matter Expert (SME)

Question 103

A header at the top of a project plan that describes a collection of subtasks

Answer 103

Summary task